First-time buyer boon: HDB offers 3,556 BTO flats

These were launched across five estates, namely Sengkang, Tampines, Jurong West, Bukit Panjang and Yishun.

First-time buyers who find the HDB resale market still too pricey will benefit greatly from the
3,556 Build-To-Order flats launched by HDB over seven BTO projects.

“The Government has certainly responded to the public’s demand for affordable public housing, especially for first-time buyers,” says PropNex Corporate Communications Manager Mr Adam Tan. “This is especially so, given that at least 95% of the units, will be set aside for these first-timers.”

The seven BTO projects are spread across five estates, namely Sengkang, Tampines, Jurong West, Bukit Panjang and Yishun, giving first-time buyers plenty of choices in relatively popular neighbourhoods.

“The 4-room flats in Segar Meadows and Segar Palmview, for example, are over 30% cheaper than resale flats in that town,” reveals Mr Tan, “and should therefore be quite popular with the first-time buyers with a tight budget.”

“Anchorvale Isles and Fernvale Bow in Sengkang seem to be the pick of the bunch”, says Mr Tan, “Riverbow is just next to Punggol Reservoir and both projects are self-contained with a Residents’ Committee Centre, a childcare centre and an education centre,” says Mr Tan.

“Over at Yishun, Yishun Natura provides three to five room flats at up to 35% cheaper than resale flats in Yishun,” says Mr Tan.

“Residents will be well served by the wide range of facilities in Yishun Town, such as the Yishun MRT station and bus interchange and Northpoint Shopping Centre,” continues Mr Tan, “there are also educational, medical and recreational facilities nearby such as the North View Primary and Secondary School, Khoo Teck Puat Hospital and Yishun Park.”

“Those who are looking for smaller apartments will also be spoilt for choice now as Golden Carnation and Golden Orchid offer up to 381 Studio Apartments at Tampines and Jurong West respectively,” says Mr Tan.

“Golden Carnation will be the more popular of the two Studio Apartment projects as it is located in Tampines, which is a well-established neighbourhood with shops providing a wide range of services,” continues Mr Tan, “fresh produce and varieties of food choices are available from the nearby Tampines Round Market and Food Centre. The Tampines MRT Station, bus interchange, Tampines Changkat Community Club, Tampines Town Council Office are all nearby the project.”

Despite the huge number of flats released, Mr Tan expects the overall oversubscription rate to be around at least three times, given that demand is still high from first-timers, based on previous BTO launches this year.

“Anchorvale Bow, Fernvale Riverbow, Yishun Natura and Golden Carnation will be more popular and you can expect the over subscription to be at least four times due to the popularity of the estate they are located in,” says Mr Tan.

“Golden Orchid at Jurong West will probably receive the lowest subscriptions,” he says, “as these flats are not conducive for first-time buyers looking to start a family. Therefore, subscription rates for these might be only double or so.”

Mr Tan concludes by lauding the Government’s efforts in heeding the demand from first-time buyers who are asking for more BTO flats across more variety of estates. He commends them on the bold move of increasing the number of flats offered this year to 25,000 flats.

“COV prices are bottoming out at around $21,000,” he observes, “and many first-time buyers will still be priced out of the resale market for this reason. Hence, they will definitely find great relief in this bumper crop of BTO flats.” 

Photo from pancy98